Many people will go through periods of tough times and struggle throughout their life. In any case, the best way to handle it is by remembering that these periods are temporary. You may need to make some lifestyle adjustments to make ends meet before you get back to your routine and they won’t necessarily all be easy, but they are all doable. Here are five ways to lift some of the burdens and get through this a bit quicker.
1. Don’t Get Another Credit Card
When an emergency has left you unable to pay your bills or any necessary expenses, it can be tempting to pay with credit. The unfortunate reality is, this can be even more detrimental to your financial circumstances if you are unable to cover the monthly repayments and interest rates. A better alternative is opting for small loans that cover your necessary bills and offer flexible payback terms and low interest rates.
2. Renegotiate and Reduce Your Utility Bills
A way to lower your ongoing costs is to reevaluate all your negotiable bill providers. These may include your energy and gas retailers, mobile plan provider, internet service provider and any other billers or subscription services you are using. You should pause or terminate all non-essential services, like pay TV or entertainment subscriptions until you are in a stable financial position.
For other billers, take note of their competitor’s prices and quote any lower rate to your current provider. Request if they can match, lower or work out a new deal based on your status as a loyal customer and you’ll find that a lot of the time, they’ll give you a much lower rate rather than lose your service.
3. Rethink Your Shopping: Buy Nothing New
You’re probably well aware that this is not a time to splurge, but there are a few other changes you can make to the way you shop that can help you get your finances back on track sooner. When it comes to non-perishable items, you can save considerably by purchasing products that are past their best before dates or even looking to rescued food options; this is when suppliers sell unneeded foods sourced from restaurants or markets that would have otherwise gone to waste.
4. Consider All Your Transport Options
Not only will walking, cycling or riding your skateboard save you a lot of money on petrol but it’s a simple way to incorporate more physical activity into your routine. Carpool and ridesharing with your partner or a work colleague who takes a similar route to you are also options if you frequently travel a longer distance. If public transport is readily available in your area, compare the ticket costs to the petrol and general running costs of your vehicle as well as the time difference of both options.
5. Pick Up A Side Hustle For Extra Cash
It has never been easier to find small, side gigs fast! If you have a valuable skill, or just a vehicle and some free time all you need to do is download one of many gig economy apps, or get online to any classified ad website and you’ll find countless customers in need of a service. Ideas for commonly requested tasks you can do include: deliveries and drop-offs, housework tasks, putting together furniture, ironing, writing/editing, graphic design, language tutoring, gardening, and lawn care jobs.
By following through with these five tips and maintaining your patience, you will be able to get through these difficult times and ultimately, come out stronger on the other side.
